Robeco Institutional Asset Management B.V. Increases Position in Steelcase Inc. (NYSE:SCS)

Robeco Institutional Asset Management B.V. increased its position in Steelcase Inc. (NYSE:SCS - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 483,251 shares of the business services provider's stock after purchasing an additional 26,531 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.42% of Steelcase worth $5,296,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Steelcase by 1,468.7% in the 1st quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider's stock worth $63,000 after buying an additional 5,346 shares during the period. Virtus Fund Advisers LLC lifted its stake in Steelcase by 228.9% in the fourth quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock worth $93,000 after acquiring an additional 5,493 shares during the period. Quarry LP lifted its stake in Steelcase by 162.6% in the fourth quarter. Quarry LP now owns 8,344 shares of the business services provider's stock worth $99,000 after acquiring an additional 5,166 shares during the period. Boothbay Fund Management LLC bought a new position in Steelcase during the 4th quarter worth about $135,000. Finally, Mariner LLC purchased a new position in Steelcase during the 4th quarter valued at about $139,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SCS. Wall Street Zen cut shares of Steelcase from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. Sidoti raised shares of Steelcase to a "hold" rating in a research note on Friday, March 28th.

Steelcase Stock Up 4.1%

SCS stock traded up $0.46 during trading on Friday, reaching $11.68. 481,423 shares of the company traded hands, compared to its average volume of 669,795. The business has a 50 day simple moving average of $10.42 and a 200 day simple moving average of $10.99. Steelcase Inc. has a 12 month low of $9.32 and a 12 month high of $14.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.17 and a current ratio of 1.65. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.07 and a beta of 1.13.

Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The business services provider reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. Steelcase had a net margin of 3.84% and a return on equity of 14.49%. The business had revenue of $779.00 million for the quarter, compared to analysts' expectations of $759.90 million. During the same period last year, the business earned $0.16 EPS. The company's revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, July 7th. This represents a $0.40 annualized dividend and a yield of 3.42%. Steelcase's dividend payout ratio (DPR) is 38.83%.

Insider Transactions at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $10.13, for a total value of $60,780.00. Following the completion of the sale, the vice president owned 139,912 shares of the company's stock, valued at approximately $1,417,308.56. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.75% of the stock is owned by corporate insiders.

About Steelcase

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.